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Strategies & Market Trends : John Pitera's Market Laboratory -- Ignore unavailable to you. Want to Upgrade?

To: The Ox who wrote (8975)3/15/2008 1:29:43 PM
From: Augustus Gloop  Read Replies (1) | Respond to of 33421
 
I think a large percentage of the SPX (like 30%) is financial related - that index could get real ugly!

I know ZERO about loaning money so I'll just ask the question and someone can explain it to me.

When the FF's were at 5% last summer 30 year mortgages were about 6.5%. Thats a 30% premium over FF's at the time. Now that FF's are 3% what should a 30 year fixed be?



To: The Ox who wrote (8975)3/15/2008 2:06:25 PM
From: Oblomov  Read Replies (2) | Respond to of 33421
 
When you say that rates are "higher than necessary", what do you mean? Interest rates are simply compensation for lending risk. Isn't the risk of default considerably higher than a few years ago? I'm surprised that mortgage rates aren't 8 or 9% for a 30 year fixed right now.


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